Algeria/Japan: Bilateral financial cooperation discussed

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ALGIERS- Finance Minister Brahim Djamel Kassali received Japan’s Ambassador to Algiers, Kono Akira, with whom he discussed Algerian-Japanese financial cooperation, the ministry said in a statement.

During this meeting, held on Wednesday at the headquarters of the Ministry of Finance, “there was an overview of the state of cooperation and economic and financial relations between the two countries, as well as the ways and means to further consolidate them,” the statement said.

The two parties also welcomed the results obtained recently in the context of the negotiations on the conclusion of the double taxation agreement, as well as the commitment of the two countries to complete, as soon as possible, the procedures leading to the signing of this agreement.

In this regard, both sides agreed to work jointly to further strengthen the legal arsenal governing bilateral economic cooperation, particularly in the area of ​​investment by concluding a bilateral agreement on the reciprocal promotion and protection of investments.

This meeting was also an opportunity for the Minister to present an overview of the reforms undertaken by the Algerian government to improve the investment climate in Algeria, in particular, thanks to the recent adoption of a new investment code.

The Japanese ambassador referred to a great interest expressed by many Japanese companies for the Algerian market and its potential, according to the press release.

In this respect, he underlined the importance given by his country’s potential investors to the development of the bilateral legal framework.

Mr. Kassali underlined the opportunities offered by the Algerian market and the possibilities of forging win-win partnerships between the economic operators of the two countries.

The Japanese ambassador also expressed during this meeting, the availability of his country to possibly engage in financial cooperation to support investment projects in Algeria, the statement concluded.

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